Selling a car as a loophole to acquire a loan

Q: I have a question regarding interest. I have a financial issue in my business. I need around 5 million to complete my running order. A friend of mine has an electronics business. He is selling his products at a higher price in easy monthly installments. As I told my problem to him, he bought a vehicle for 5 million pkr and sold me this vehicle for 7.5 million in six monthly installments. I sold this vehicle to the same owner at a lower price (4.99 million) and took money for completing my order. Is this haram in Islam? Because my friend is taking money against a product, not against money, and I'm paying him for a vehicle, not for money. If it is haraam, then what is the solution because I already used the money and invested in my business after selling the vehicle. 

A: According to leading jurists, this kind of a sale is makrooh-e-tahreemi. You should make taubah for such a deal.

And Allah Ta'ala (الله تعالى) knows best.


Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)